SBA Loan For Startups

You’ve poured your heart into your business. Late nights, personal savings, sacrifice after sacrifice.

But every time you try to get a loan to grow what you’ve built? Another rejection. 😩

Your credit isn't perfect. Your business is still new. And traditional lenders act like your dream doesn’t deserve a shot.

Sound familiar?

Before you give up, I want you to know there’s a powerful alternative that most business owners have never even heard of, but it was built just for people like you.

It’s called the SBA Microloan, and it could be the lifeline you’ve been waiting for.

The Small Business Administration (SBA) is a government agency created to support small business owners.

Think of them as your behind-the-scenes business bestie—offering funding, mentorship, disaster relief, and even help winning government contracts.

But one of their most impactful tools?

The SBA Microloan Program.

If you're a small business owner struggling to secure financing due to less-than-excellent credit, an SBA microloan might be your answer. This loan was designed for:

• Startups
• Women- and minority-owned businesses
• Businesses in underserved areas
• Founders who are rebuilding after credit setbacks small businesses and nonprofits. 

SBA Microloan Quick Facts:

• Loan Amount: $500 to $50,000 (average is $13,000)
• Terms: Up to 6 years, low interest
• Used For: Working capital, equipment, inventory, or supplies
• Credit Requirements: More flexible than traditional loan

And unlike banks that say “no” because of your score, microloan lenders look at the full picture. They care more about your potential than your past.

To qualify for an SBA microloan, your business must:

• Be a for-profit small business or a qualifying nonprofit.
• Be located in the United States.
• Have a demonstrated need for the loan.
• Be unable to obtain financing through conventional lending channels.

• Find an intermediary lender: SBA microloans are disbursed through intermediary lenders, typically nonprofit community development organizations. You can find a lender near you using the SBA's Lender Match tool.
• Gather necessary documents: Prepare your business plan, financial statements, tax returns, and personal credit report.
• Submit the loan application: The application process varies by lender, but generally involves completing a loan application and providing supporting documentation.
• Undergo underwriting: The lender will assess your business's creditworthiness, financial performance, and loan purpose.
• Loan approval and disbursement: If approved, the loan funds will be disbursed by the intermediary lender.

Getting approved for an SBA Microloan doesn't have to be hard or confusing. Here's some tips for getting approved.

• Develop a strong business plan: A well-crafted business plan demonstrates your understanding of the market and your ability to manage the business.
• Improve your credit score: While not the primary focus, a better credit score can improve your chances.
• Build relationships: Networking with local business owners and community leaders can strengthen your application.

The SBA microloan program is designed to help small businesses overcome obstacles and achieve their goals. While it may not be the solution for every business, it's definitely worth exploring if you're facing challenges securing traditional financing.

Are you ready to unlock the secrets to building exceptional business credit?

Take our 2-minute Fundable Quiz and discover what’s standing between you and the funding your business deserves.

You’ll walk away knowing your fundability score, your biggest gaps, and what to do to fix it.

👉🏾 [Take the Fundable Quiz Now] and start building a business lenders say “YES” to.